Protecting your Perfect Day with Wedding Insurance
With restrictions on gatherings becoming a distant memory, many couples are feeling confident enough to start
planning their dream weddings. But how many of them consider wedding insurance as part of these plans?
Coronavirus lockdown measures played havoc with many weddings over the last few years, and saw couples battling with contract re-negotiations, relocations, postponements and even cancellations.
But according to Zavion Kotze, celebrity wedding maestro and founder of the popular Inimitable venue in Muldersdrift, the question that continues to be asked by couples is: “Do you think we need wedding insurance?”
Our latest blog poses the question: we insure our houses, our cars, our health and even our pets – so why wouldn’t we insure the biggest day of our lives with specialist wedding insurance?
WHAT COULD POSSIBLY GO WRONG?
The capital outlay of weddings in this day and age is substantial, and while you would much rather think about what’s going right, there are inevitably a range of issues that can hamper even the best laid plans.
According to data from Aon Affinity, 38% of wedding related claims in the USA in 2019 stemmed from the need to cancel or postpone the event, with reasons ranging from military deployments and deaths in the family, to hurricanes and health issues.
Other reasons included:
- Venue Property Damage (23%)
- Injury or Accident (18%)
- Vendor Problem (16%)
- Theft, Loss, or Damage (5%)
Companies going out of business, unresponsive videographers, and the entire band falling into a river
are among the 16 percent of claims that came from a vendor problem.
Source: Aon Affinity Wedsafe
CREATING INNOVATIVE SOLUTIONS
After 8 years in the wedding industry, Zavion had witnessed first hand every little (and not so little!) thing that could possibly go wrong on the day of a wedding, from storms, dress malfunctions and wedding cake flops, to fires, sickness and vendor problems.
He asked himself, with so many things that could go wrong, rather than risking your dream wedding, why not just cover yourself against the unexpected?
Zavion did some research, and after not being able to find a suitable product on the market he approached his insurance broker here at Genesis to chat about the idea of wedding insurance.
I Do Insure was born in the form of a partnership between Zavion, Genesis Insurance Brokers and ITOO Special Risks, a special risks insurance provider operating as Hollard’s preferred underwriter of specialty products.
“COVERED” HAS A NICE RING TO IT
The result is a specialist wedding insurance product which is tailor made to suit a range of budgets, and has been fine-tuned with years of experience within the wedding industry.
I Do Insure helps to protect a couple’s investment from circumstances beyond their control, and reimburses unrecoverable expenses incurred.
While many wedding vendors offer insurance, this will usually not cover all of the losses and you are the one that ends up out of pocket. Wedding insurance provides much wider cover which your Vendor’s policy may not cater for.
I Do Insure offers different levels of cover in the form of easy to understand packages, which feature affordable premiums with various payment options and no deductibles or excesses.
These packages are based on the financial value of your wedding, and provide varying levels of cover for:
- Event Cancellation, Curtailment and Rescheduling
- Wedding Attire & Rings
- Flowers, Cake & Gifts
- Supplier Failure
- Wedding Cars & Transport
- Equipment Hire
- Essential Documents
- Photography & Video
- Personal Liability
- Guest Personal Liability
Although it is said that rain on your wedding day is a sign of good luck, all I Do Insure packages also provide Silver Lining Cover, which will pay out in the event of rain on your wedding day regardless of whether a loss was suffered or not.
To find out more about specialist wedding insurance, visit the Frequently Asked Questions on the I Do Insure website, contact the I Do Insure team today or speak to your Genesis broker who will guide you through each step of the process.